Kpn Nv News

Stratos to Acquire Xantic

Stratos Global Corporation signed a letter of intent to purchase the shares of Xantic B.V. This transaction, involving two of the largest providers of mobile satellite services, will create a leading provider of advanced remote communications solutions, with a significantly expanded geographic presence and customer base in the Americas, Europe and the Asia-Pacific region. Under the terms of the agreement, Stratos will acquire 100 percent of Xantic, jointly owned by KPN N.V. (65 percent) and Telstra Corporation Ltd. (35 percent), for a purchase price of approximately $191 million. The purchase price is subject to adjustment based upon audited EBITDA (defined as operating income before interest expense…